Loan amount
$175,000
Loan type
Purchase
{Rent&Hold}
As-Is Property Value
$220,000
{PP:$200,000}
LTV
80%
{LTV}
Property type
Multi-Family 1-4 Units
Borrower Details
Credit score
790
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Crestview
State
Florida
Loan Details
Purchase price
$200,000
Down payment
$25,000
Additional Loan Information
Looking to acquire a duplex that is currently on the market. Steady rental stream. Real estate contacts suggest that current rent ($700/unit; $1400 total) is below market rate. Market rents in this area are $950/unit. Most conventional lenders are requiring 75% LTV. Looking for higher LTV rates. I am an attorney and I have experience with handling landlord tenant issues. I may be partnering with another attorney friend of mine on this project.
Status
Open
Created
April 21, 2021 - 10:49pm
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